TSX:HOT.DB.V - Post by User
Post by
maypeterson Nov 19, 2018 9:37am
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Post# 28993444
RBC reduced price target by $1.25 to $6.00 USD
RBC reduced price target by $1.25 to $6.00 USD November 18, 2018
AHIP REIT LP
On the sidelines following guidance cut and a lack of visibility; price target -$1.25 to $6.00
Our view: We are taking a cautious stance on AHIP's units following:
1) Q3 results which were 19% below forecast;
2) an 8% cut to 2018 guidance; and
3) significantly reduced visibility into 2019 earnings.
While we continue to support AHIP's strategic initiatives, we believe they will take longer to bear
fruit than previously expected. We also believe the initiatives may end up being more defensive in nature.
Price Target -$1.25 to $6.00; remain Sector Perform; assign Speculative Risk rating.